Overcoming Common Pain Points for a COO in a Cosmetic Company

The role of a Chief Operating Officer (COO) within a midsize cosmetic company is a challenging one. COOs are responsible for a slew of tasks from developing strategies, and managing the day-to-day operations, to increasing efficiency. In the competitive cosmetic industry, it is important that COOs of cosmetic companies are able to manage the challenges they face.

This article will discuss the pain points of COOs in the industry and potential strategies for managing them.  

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To start, let’s clarify the role of a COO in a cosmetic company. A COO is responsible for managing the daily supply chain activities of the company, developing strategies to maximise efficiency and profit, and increasing corporate visibility. Additionally, they are expected to keep the company aligned with current trends and regulations while maintaining the demands of external stakeholders. 

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Cosmetic companies often experience a variety of pain points from their COO. One of the most concerning pain points is the lack of resources to accomplish all the required tasks. Many times, COOs can feel overwhelmed by the amount of responsibility placed on their shoulders with a lack of personnel or budget. Supply chain responsibilities can be very wide, and without enough resources on hand coupled with a lack of automation, it is very easy to fall behind very fast. 

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Another pain point for COOs is the constant pressure to meet the demands of external stakeholders, such as investors and industry regulators. In order to keep the company growing, COOs must maintain the expectations of these stakeholders and ensure the company is following the correct regulations. This becomes even more complex with the global market, to adhere to a long list of different countries' regulations.  

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In addition, COOs of midsize cosmetic companies can find it difficult to keep up with changing consumer habits. Consumers are increasingly aware of the ingredients they are using on their body and basing their decisions on ethical considerations.  In fact, 68% of people are looking for products described as “clean”. To remain competitive, COOs must make sure their company is following the latest industry trends and benchmark against the competition. 

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Lastly, aligning processes and priorities with the Board of Directors can be a challenge for COOs. It is important that the COO is able to concisely and effectively communicate their strategies without sacrificing the company’s goals. 

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Fortunately, there are strategies that COOs of midsize cosmetic companies can utilise in order to manage the various pain points mentioned. One such strategy is the adoption of automation. Automation can assist COOs in reducing their workload and ensure processes and daily tasks are running efficiently. Furthermore, COOs should attempt to develop collaborative relationships with external stakeholders in order to better understand their expectations and work towards meeting them.

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Utilising data analytics to improve processes can help COOs become more aware of the inner workings of their company. Understanding the data can help them identify areas for improvement and increase the company’s efficiency. This can be accomplished by analysing sales history, purchasing and spending  volumes, and stock performance. 

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Finally, COOs should strive to establish reasonable goals for themselves and their team. Reasonable goals can assist in preventing employees from feeling overwhelmed and help create achievable strategies for success. Coming up with strategy and tracking KPI’s is essential to delivering on goals and keeping a team motivated. 

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In conclusion, COOs of midsize cosmetic companies face a variety of pain points including limited resources, pressure from external stakeholders, keeping up with changing consumer habits, and aligning processes and priorities with the Board of Directors. However, COOs can combat these pain points by utilising strategies such as adopting automation, developing collaborative relationships, utilising data analytics to improve processes, and establishing reasonable goals. By implementing these strategies, COOs can be better prepared to meet the demands of the cosmetic industry.

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